Chapter 6 Flashcards
1
Q
The monetary value of product.
A
Price
2
Q
annualized representation of your interest rate
A
APR
3
Q
a feeling of regret or anxiety after making a purchase.
A
Buyers remorse
4
Q
Buyers beware
A
Caveat emptor
5
Q
is borrowing money with a promise to repay that money and some additional fee, or interest, over a period of time.
A
Financing
6
Q
Having limits or boundaries.
A
Finite
7
Q
unplanned decision to buy a product or service, made just before a purchase.
A
Impulse purchase
8
Q
You lose something to gain something vise versa.
A
Opportunity cost
9
Q
method used by some lenders to calculate interest charges on a loan.
A
Rule of 78
10
Q
An amount of money you spend, usually $300, that causes some pain to part with.
A
Significant purchase
